Comvita widens 1H loss; announces plans to raise $24.4M in rights offer

Tue, 11 Nov 2014

By Suze Metherell Nov. 12 (BusinessDesk) - Comvita, which makes health products derived from manuka honey, widened its first-half loss and detailed plans to raise $24.4 million from shareholders. Its net loss after tax widened to $3.3 million in the six months ended Sept. 30, from a loss of $800,000 a year earlier, the Te Puke-based company said in a statement. The result is better than the $4 million loss the company forecast in September. Sales rose 38 percent to $59.7 million, beating its September guidance of $56 million. The loss...

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